How Millennials Are Changing the Condo and Homeowner Association Demographic

As the years progress, more and more millennials are buying condominiums, townhomes, and single-family homes. With this influx, the Condo Association (COA) and Homeowner’s Association (HOA) demographic has started to saturate and chances are you’re noticing the changes. In case you’re unfamiliar with who falls under the term “millennials,” they are also known as Generation Y. They’ve reached adulthood just as we experienced the turn of the 21st century and are projected to take over the homebuyers market in 2017. Since they are growing up, chances are they will move to a community that has a current Association in place. This represents new changes that tend to fit better with adult lifestyles. However, it is important to realize that this will also bring about a change in the way you currently manage. Communication Millennials fall into a unique category of people. They are the first generation to grow up completely surrounded by technology. Because of this, it tends to also be used to drive their behaviors. This includes the way they communicate, mainly being the fact that emails replace newsletters and texts replace calls. Some would say Millennials hate idle time. They utilize waiting time or work breaks by checking their phones. In order to…Read more